Immunovant (NASDAQ:IMVT) Coverage Initiated at Jefferies Financial Group

Equities researchers at Jefferies Financial Group began coverage on shares of Immunovant (NASDAQ:IMVT) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “hold” rating and a $20.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 8.17% from the company’s current price.

IMVT has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 target price on shares of Immunovant in a research report on Friday, February 7th. Guggenheim reduced their price target on shares of Immunovant from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Bank of America lowered their price objective on shares of Immunovant from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company cut their target price on Immunovant from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Wolfe Research cut Immunovant from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.55.

Immunovant Trading Up 0.3 %

IMVT opened at $18.49 on Monday. The firm has a market capitalization of $3.14 billion, a PE ratio of -7.06 and a beta of 0.65. The firm’s 50-day moving average price is $22.19 and its 200 day moving average price is $26.73. Immunovant has a twelve month low of $17.65 and a twelve month high of $35.97.

Immunovant (NASDAQ:IMVT) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.08). As a group, analysts predict that Immunovant will post -2.69 earnings per share for the current fiscal year.

Insider Activity

In other Immunovant news, CTO Jay S. Stout sold 2,195 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.59, for a total transaction of $51,780.05. Following the sale, the chief technology officer now owns 139,991 shares in the company, valued at $3,302,387.69. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eva Renee Barnett sold 4,105 shares of Immunovant stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $24.10, for a total value of $98,930.50. Following the completion of the transaction, the chief financial officer now owns 327,064 shares of the company’s stock, valued at $7,882,242.40. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,510 shares of company stock worth $656,886. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Immunovant by 46.2% in the 3rd quarter. KBC Group NV now owns 1,936 shares of the company’s stock valued at $55,000 after purchasing an additional 612 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Immunovant in the fourth quarter valued at $76,000. Assetmark Inc. raised its stake in Immunovant by 73.8% in the third quarter. Assetmark Inc. now owns 2,891 shares of the company’s stock valued at $82,000 after buying an additional 1,228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Immunovant by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,294 shares of the company’s stock worth $148,000 after buying an additional 934 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Immunovant during the 4th quarter worth about $221,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

About Immunovant

Immunovant, Inc, a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops batoclimab, a novel fully human monoclonal antibody that target the neonatal fragment crystallizable receptor for the treatment of myasthenia gravis, thyroid eye disease, chronic inflammatory demyelinating polyneuropathy, and Graves diseases, as well as warm autoimmune hemolytic anemia.